US prosecutors: Former FTX executive Ryan Salame should be sentenced to five to seven years in prison

Former FTX executive Ryan Salame is facing criminal charges and could be sentenced to five to seven years in prison due to the collapse of a cryptocurrency empire worth billions of dollars. In a sentencing memorandum submitted to the Manhattan federal court on Tuesday, federal prosecutors stated that the 30-year-old man admitted to committing "serious crimes that require a heavy sentence to ensure that Salame is justly punished." Salame's lawyer argued that his sentence should not exceed 18 months.